FBR Capital Markets expands European institutional brokerage unit

US-based FBR Capital Markets has announced the expansion of the firm's European institutional brokerage, a unit of its London-based subsidiary, Friedman, Billings, Ramsey International.

As part of this expansion, David Abraham and Blake Hill have joined the firm as directors of institutional sales, and Alfredo Mujica and Daniel Tully have joined as directors of equity sales and trading.

Mr Abraham joins the Friedman, Billings, Ramsey International (FBRIL) institutional sales team from Merebis Capital, where he was partner and portfolio manager for event-driven strategies. Prior to that, he was partner and investment manager of Titanium Capital's global event-driven hedge fund and senior analyst at the long/short fund Zan Partners.

Mr Hill joins FBRIL from Deutsche Bank where he spent the past 15 years. At Deutsche Bank, he was most recently a director within global markets, fundamental equity sales, and earlier served as a director within the firm's private wealth management division.

Most recently, Mr Mujica was a senior equity sales trader with ABS Partners in London. Prior to that, he was director of cash equity trading and equity sales trading at UBS.

Mr Tully joins FBRIL from Morgan Stanley International where he was a vice president and equity sales trader within the firm's special situations group. His prior experience includes sales trading duties at Fimat International Banque, Pali International and Commerzbank Securities.

Timothy Burns, president and CEO of FBRIL, said: "We continue to pursue an aggressive, organic growth model for our London-based European operations. The additions to our institutional sales and trading teams announced today are a result of the ongoing expansion of our European equity research platform launched in the second quarter."

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